The future value of investment is 4031.07 , get this by the property of future value.
What does future value mean?
What is future value, exactly? Future value (FV), a financial concept, determines the worth of an asset depending on variables like predicted future interest rates or cashflows. An investor may find it useful to know how much their investment would be worth in five years given an anticipated rate of return.
Future value is the sum of money that is currently invested and will eventually become given enough time and an interest rate. As an illustration, if you deposit $1,000 now and get 2% interest annually, your money will be worth $1,020 after a year. Therefore, its future worth is $1,020.
The formula for Future value = l(1+i)^n
so, = $3200(1+18%)^3
= $3200* 1.2597
= $4,031.07
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